Havens Advance as Missile Test Rattles Traders: Markets Wrap
- North Korea ICBM launch claim spurs gold, yen; oil fluctuates
- U.S. stock and bond markets are closed for Independence Day
U.S. Confirms North Korea Rocket Was ICBM
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A risk-off mood settled over markets on Tuesday, with haven assets including gold and the Japanese yen climbing and stocks slipping in the wake of an apparent milestone in North Korea’s weapons program.
Early market optimism in Asia -- sparked by bullish American economic data yesterday -- gave way after North Korea said it successfully test-fired an intercontinental ballistic missile, moving the state closer to its goal of building a device capable of hitting the continental U.S. Gold headed for its first advance in four days. European stocks edged lower as miners rallied but telecom and utility shares dropped. Oil fluctuated between gains and losses.